About CoinEx – The Global Digital Coin Exchange
CoinEx is a cryptocurrency exchange founded in December 2017 by a group of experts from leading internet, finance and cryptocurrency companies. The main properties that the exchange offers are a proprietary trade matching system and an excellent user experience.
CoinEx has its headquarters in Hong Kong and offers low-cost coin-to-coin trading for different cryptocurrencies in the market. The exchange is focused on Bitcoin Cash and has issued its own cryptocurrency known as CoinEx Token (CET). Moreover, among the different future expansion plans that the exchange has, it wants to build a decentralized exchange that will use CET as ‘gas.’
The exchange has very competitive fees, indeed, it only charges market takers with 0.1% fee. Market makers are not charged with fees at all. Other important platforms and exchanges charge more than double fees for trading activities.
At the moment of writing this article, CoinEx is the 79th most important cryptocurrency exchange by trading volume in the last 24 hours, managing over $8 million dollars. The most important trading pairs are BCH/USDT, BTC/USDT, ETH/BCH, ETH/USDT, ETH/BTC, HYDRO/BTC, DASH/BCH, DASH/BTC, BTC/BCH, and LTC/BTC, accounting for 80% of the total trading volume at the exchange.
CoinEx offers 2 factor authentication for logging in, and at the same time, they work with cold and multi signature wallets to guarantee asset safety at all times. Additionally CoinEx makes use of something known as ‘Full Dimension Protection,’ which basically means that it uses several security protocols that protect the different aspects of the platform.
Moreover, the company explains that it has a high-speed Matching Engine that supports a processing capacity of up to 10,000 transactions per second. Something very important for investors that need a reliable platform in movements of high trading volume.
“We guarantee stability under concurrency of thousands of orders, each one of which will be in good hands,” reads CoinEx’s official site.
In addition to this, it has a fast deposit and withdrawal system. It has created an automatic transaction acceleration for deposits and withdrawals supported by world top mining pool. Small transactions are processed in less than 5 minutes. The platform is also available in different languages so as to allow every person on earth to have access at one of the fastest crypto exchanges in the market.
CoinEx Token (CET)
As mentioned before, the exchange has launched its own cryptocurrency known as CoinEx Token (CET). This cryptocurrency is an official value-added services and privileges scheme based on the CoinEx exchange platform.
This virtual currency can be used for paying trading fees, for trading with different cryptocurrency pairs, to pay for VIP services and privileges, and it will be used as ‘gas’ for the decentralized exchange that the platform is planning for the future. In addition to it, the currency can be used to buy a dedicated API service to upgrade trading efficiency.
Another important feature of the CET token is that holders will have the possibility to vote for new tokens they want listed on CoinEx. At the same time, CoinEx has a repurchase plan in which they will be buying back and burning CET tokens with 20% of its quarterly profit at the end of each quarter. This should allow the cryptocurrency to gain value over time, as demand increases and the supply decreases.
At the moment, the exchange has partnered with different companies in the crypto and blockchain industry. We can mention ViaBTC, a cloud mining company that was founded in 2016 and offers an important Bitcoin mining pool, Bitcoin Cash, BCF, Bitkan, Blockchair, Bitcoin86, and many others.
Finally, the platform offered by CoinEx has very interesting trading options and graphics. Investors that are searching for more advanced analytic tools will be able to find them at the exchange. The interface is very intuitive and user friendly – opening the doors to new and experienced traders.v
Final Thoughts on CoinEx
CoinEx is a relatively new cryptocurrency exchange platform that uses Bitcoin Cash (BCH) as the base virtual currency and that offers and important number of trading pairs. It has several strong points like low trading fees (just for market makers), a very fast platform (that can handle over 10,000 transactions per second), and partnerships with important enterprises in the blockchain and cryptocurrency world.
Some of the disadvantages that we can mention are high withdrawal fees for virtual currencies other than Bitcoin Cash (which is the base currency for the exchange). Moreover, there are minimum amounts for depositing and withdrawing funds. At the same time, the exchange does not offer support for fiat currencies, as many other exchanges in the market.
Overall, for being so short time in the market, CoinEx seems a very interesting proposal for Bitcoin Cash owners and enthusiasts, and for all other crypto traders and investors that want to trade with low fees and a wide variety of virtual currencies.